Amicus.io, a Charlotte, N.C.-based fintech company providing a philanthropic platform for donor-advised funds (DAFs), raised $8.7M in series B funding.
The round was led by The FR Group, a Vancouver-based family office. Wells Fargo Startup Accelerator also joined the round as a new investor.
Led by Walt Ruloff, founder and chairman, and Cor Hoekstra, co-founder and CEO, Amicus.io is launching its DAF 2.0 platform, a white label solution designed for consumer banks, to the benefit of private bank divisions, digital wealth management, wealth managers and asset managers as well the entire philanthropic community.
The white label DAF 2.0 platform lets institutions offer customers a self-directed approach to philanthropic giving in a simple three phase process. All from within the bank’s branded environment, the DAF 2.0 platform will allow customers to:
- Contribute: a variety of assets, including seamless transfer of cash, securities, with payments options from virtually any account (cash deposit accounts, credit cards, traditional DAFs)
- Invest: in white-labeled investment pools, including institutional mutual funds, managed accounts, ETFs, selecting from a drop-down list and adjusting asset allocation with a single click
- Grant: donate to more than 1.8M US non-profits and philanthropic organizations, with the ability to easily search by name, location, category and the ability to discover new charities by type of cause (wildlife protection, for example).
Amicus is a graduate of theWells Fargo Startup Accelerator, a fully virtual six-month program focused on helping early-stage startups learn what it takes to break into the Fortune 500 marketplace and the financial services vertical market. The company also participated in the Charlotte-based QC Fintech Accelerator, which provides member companies access to world class mentors, capital and financial service organizations. Amicus completed a successful SOC II Type II compliance audit in mid 2020 and announced the addition of CTO, Raja Musunuru.